Haemonetics surges as CSL plans to move all US plasma centers to its devices
BUZZ-Haemonetics surges as CSL plans to move all US plasma centers to its devices ** Shares of medical equipment maker Haemonetics HAE.N surge nearly 16% to $117.81
** Stock hits $120.61 earlier in the session, its highest level since early 2021
** Co says CSL Plasma, a unit of Australia's CSL CSL.AX, expects to move all its US plasma centers to HAE's NexSys devices and kits by end-2027
** CSL has also ended its agreement with HAE rival Terumo 4543.T — BTIG
** Switch would win back business HAE began losing in 2021, when CSL, then its biggest plasma customer, said it would not renew its US supply deal
** BTIG estimates the business could add about 60 cents a year to adjusted EPS, based on the roughly $155 million HAE earned from CSL's US business in fiscal 2024, but says actual revenue and margins are not yet known
** Brokerage keeps "buy" rating, raises PT to $130 from $110, saying deal eases fears of market share loss and lifts sales growth outlook
** Including session's moves, stock up 49.46% YTD
(Reporting by Miraanta Lowrance in Bengaluru)
Recent news on Haemonetics
See all newsBrief: Haemonetics Announces FDA Approval Of Perqseal® Elite Vascular Closure System
Haemonetics says FDA clears vascular closure device
US STOCKS ON THE MOVE-Palantir, Haemonetics
U.S. STOCKS ON THE MOVE-Palantir, Haemonetics, Starbucks
Haemonetics surges as CSL plans to move all US plasma centers to its devices